The Services sector is crucial to the UK economy, making up over 70% of GDP for the country. It is one of the most resilient sectors and has still seen a decent level of growth amidst the current economic downturn and contributes greatly to new jobs created up and down the country.
Challenegs in the Industry
Companies in the Services sector vary greatly in the way they are run and who they deal with, however, they are facing the same problems. With low business confidence impacting upon other sectors, this is having a knock-on effect on the Services sector, with less new business and fewer jobs being created.
In terms of a company’s financial issues, meeting payroll obligations and paying creditors can result in unpredictable and inconsistent cash flow cycles, especially in an industry where your customers take, on average, over 30 days to pay you.
What SBF can do
Skipton Business Finance has a ten year history of success, dealing with businesses across a variety of sectors helping to improve cash flow by unlocking capital tied up in unpaid invoices. Improved cash flow can have a direct positive effect on your business, not least gaining the ability to pay your own creditors quickly and benefit from early payment discounts but also allowing you the ability to take advantage of economies of scale and new confidence to be able to take on more lucrative deals without the risk of running out of money.
How SBF do it
We strive to deliver fast, efficient and flexible invoice finance solutions, such as our flexible factoring or invoice discounting facilities that grow with your business giving you access to the capital you earn 24 hours after you raise an invoice.
In over ten years, we have funded businesses like yours and given them access to funds to grow in line with their sales meaning that the solutions we provide are more flexible than a traditional bank overdraft.
This means that the factoring and invoice discounting facilities we provide are the fastest growing alternatives to a traditional bank overdraft.
The amount of cash funded through invoice finance lending solutions such as factoring or invoice discounting rose by 22% between 2006 and 2010 and the asset-based lending industry as a whole grew by 11% in 2010.
Get in touch with us!
It’s easy to unlock the money you have tied up in unpaid invoices. Just call us on 0845 602 9354 and one of our award-winning team will be able to guide you through the process. Alternatively, fill in the quick quote form on the right.
